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Resolute Mining will begin trading on London Stock Exchange today

The company is commissioning the world’s first fully automated underground gold mine in Mali with the aim of delivering a low-cost, large-scale operation with a mine life beyond 2032.

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Resolute has gold operations in West Africa and Queensland

Resolute Mining Ltd (ASX:RSG) (LON:RSG) has listed on the London Stock Exchange under the ticker RSG and will begin trading today at 8am BST.

This follows publication of the company's prospectus on June 17, 2019, and approval by the UK Financial Conduct Authority.

The LSE listing is expected to raise the gold producer’s profile in global investment markets and support the company’s growth plans.

Resolute managing director and CEO John Welborn said the company was delighted to deliver on an important strategic goal for 2019.

He said: “The dual listing in London and the subsequent increase in profile in global investment markets is perfectly timed as we ramp up the new Syama Underground Mine in Mali.

“Syama, once commissioned, will be the world’s first fully automated underground gold mine.

“We look forward to continuing to deliver on our exciting growth agenda.”

WATCH: 'Perfect timing' for Resolute Mining as it dual lists in London

Shares on the ASX were up almost 8% to an intra-day high of $1.16.5 also boosted by a spike in the gold price.

Resolute’s existing listing on the ASX is unchanged and trading on the ASX is unaffected by the dual listing on the LSE.

Resolute has not raised any additional funds or issued any new shares as part of the admission.

The company’s issued share capital will be 758,094,588 ordinary shares and trading in Resolute shares will be fully transferrable between the ASX and LSE.

Quick facts: Resolute Mining Limited

Price: 1.2 AUD

ASX:RSG
Market: ASX
Market Cap: $1.24 billion
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Watch

Resolute Mining CEO discusses new hybrid power station at its Syama Gold Project

Resolute Mining Limited's (ASX:RSG) (LON:RSG) managing director and CEO John Welborn speaks to Proactive's Andrew Scott at the Mines & Money conference in London 2019. This week the miner's announced they're to develop a new hybrid modular power station at their Syama Gold Project in...

on 26/11/19

2 min read